Legal Question in Business Law in Massachusetts
Is there any form, which I can use to receive accounting (source documents and all other attributes) from client to be able to safe myself from any liability for whatever was in accounting before I accepted it?
Thank you
1 Answer from Attorneys
It is unclear how you would have liability for your clients accounting. If you are selling a business for someone, you do not warrant the financial information. If you are filing a tax return, you are not warranting anything other than you prepared the return on the books and records provided to you.
No private business is requied to give anyone their financial documents other than those required for filing with tax authorities or in certain circumstances shareholders.
You can ask the client for its P&S and Balance Sheet and ask who prepared it. If the information seems suspect there is little to do but ask more questions.
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